19) The budget variance for fixed manufacturing overhead is the difference between actual fixed manufacturing overhead costs incurred and the amount of fixed manufacturing overhead applied to work in process. 20) In a standard costing system, if the actual fixed manufacturing overhead cost exceeds the budgeted fixed manufacturing overhead cost for the period, then fixed manufacturing overhead cost would be underapplied for the period. 21) There can be no volume variance for variable manufacturing overhead. 22) A company has a standard cost system in which fixed and variable manufacturing overhead costs are applied to products on the basis of direct labor-hours. The company's choice of the denominator level of activity has no effect on the fixed manufacturing overhead budget variance